What does 'SIP Day' refer to in the context of investment?

The day when an individual withdraws money from a mutual fund The day when a mutual fund declares its annual returns The day of the month when an individual makes a fixed investment in a scheme The day when a financial advisor recommends a new investment strategy

Why is aligning your SIP Day with your payday considered a good practice?

It helps you time the market for maximum returns It ensures you have sufficient funds for investment without affecting your budget It allows you to take advantage of short-term market fluctuations It simplifies the process of calculating capital gains tax

What is the minimum time gap required between two consecutive SIP installments?

7 days 15 days 21 days 30 days

What is the primary advantage of automating SIP investments?

It guarantees higher returns compared to manual investments It eliminates the need for a financial advisor It ensures consistent investment without requiring manual intervention each month It allows you to predict market movements with greater accuracy

What is the core principle behind the SIP investment strategy?

Investing a large sum of money at once to maximize returns Timing the market to buy and sell at the most opportune moments Investing small amounts regularly over time to build wealth gradually Investing only in high-risk, high-reward schemes for quick profits